PM calls for domestic investment in agriculture and organic crops

The call was made during his presence at the annual YEAL meeting in Vientiane yesterday, where he also took the opportunity to inform the business sector that the government already understands the problems they face. “I, on behalf of the government, would like to encourage young entrepreneurs to continue their hard work to fulfil their business dreams like youth have always done as the right hand of the government,” he said.

Among issues raised by YEAL members at the meeting was access to capital for agriculture which remained an unsolved issue for business representatives and many requested government assistance. However, the premier remarked that the Laos- China railway project would officially launch its public services in the years to come, and export demand for agricultural products to the Chinese market would increase. “Currently, Laos is unable to supply the demand of 500,000 cattle per year to the Chinese market, and there is still an opportunity for us to rethink and begin to invest in this potential sector by cooperating with local farmers that are equipped with agricultural skills,” he said. The premier also noted that the amount of imported agricultural products from neighbouring countries on sale at local markets, which could be grown domestically.

During his presence at the meeting, PM Thongloun also called on the young entrepreneurs to actively collaborate in business as well as contribute to job creation and enable the government to eradicate poverty.In his address, the premier also encouraged YEAL members to ready themselves for any potential global challenges and reaffirmed the government’s commitment to the private sector with advisory, policy and funding support. 

The annual YEAL meeting was held to review past achievements and set plans ahead for the association. General Secretary of the Lao People’s Revolutionary Youth Union (LPRYU) Mr Alounxay Sounnalath; President of YEAL, Dr Khamsen Sisavong and other government officials from various ministries attended the meeting.

Information source: Vientiane Times.